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  • Book
  • Open Access
  • © 2021

When Can Oil Economies Be Deemed Sustainable?

Palgrave Macmillan

Editors:

  1. Giacomo Luciani

    1. Graduate Institute of International and Development Studies, Geneva, Switzerland

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    You can also search for this editor in PubMed   Google Scholar

  2. Tom Moerenhout

    1. Columbia University School of International and Public Affairs, New York, USA

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    You can also search for this editor in PubMed   Google Scholar

  • This is an Open Access Book

  • The first systematic discussion of what makes an oil economy sustainable

  • Debunks commonly held notions of what makes an oil economy sustainable

  • Highlights which oil economies are making progress towards sustainability

  • Questions if all oil economies necessarily doomed to fail

Part of the book series: The Political Economy of the Middle East (PEME)

Sections

Softcover Book USD 49.99
Price excludes VAT (USA)
Hardcover Book USD 59.99
Price excludes VAT (USA)
Learn about institutional subscriptions

Table of contents (14 chapters)

  1. Front Matter

    Pages i-xxi
    PDF

  2. Introduction: Economic Sustainability of Oil Economies

    • Giacomo Luciani, Tom Moerenhout
    Pages 1-8Open Access

  3. Framing the Economic Sustainability of Oil Economies

    • Giacomo Luciani
    Pages 9-30Open Access

  5. Outlook for Producer Economies

    • Ali Al-Saffar
    Pages 55-71Open Access

  10. Fiscal Sustainability and Hydrocarbon Endowment Per Capita in the GCC

    • Monica Malik, Thirumalai Nagesh
    Pages 215-253Open Access

  11. GCC Fiscal Reforms and Labor Market Policies

    • Monica Malik, Thirumalai Nagesh
    Pages 255-279Open Access

  14. The Sustainability of GCC Development Under the New Global Oil Order

    • Ibrahim A. Elbadawi, Samir Makdisi
    Pages 329-348Open Access

  15. When Can Oil Economies be Deemed Sustainable?

    • Giacomo Luciani, Tom Moerenhout
    Pages 349-365Open Access
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About this book

This open access book questions the stereotype depicting all Gulf (GCC) economies as not sustainable, and starts a critical discussion of what these economies and polities should do to guarantee themselves a relatively stable future.

Volatile international oil markets and the acceleration of the energy transition has challenged the notion that oil revenues are sufficient to sustain oil economies in the near to medium term. 
But what is the meaning of economic sustainability? The book discusses the multiple dimensions of the concept: economic diversification, continuing value of resources, taxation and fiscal development, labor market sustainability, sustainable income distribution, environmental sustainability, political order (democracy or authoritarianism) and sustainability, regional integration.

The overarching message in this book is that we should move on from the simplistic branding of the Gulf economies as unsustainable and tackle the details of which adaptations they might need to undertake.


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Keywords

  • Open Access
  • Sustainability of GCC Development
  • New Global Oil Order
  • Economic sustainability in resource-rich states
  • Gulf Economic Diversification and Sustainable Development
  • Political Economy of Diversification
  • Economic Transformation vs. Diversification
  • Oil and Economic Diversification
  • Fiscal dimensions of Economic Sustainability
  • Labour Market dimensions of Economic Sustainability
  • Hydrocarbon Endowment in the Gulf Region
  • Normalizing the Saudi Economy
  • Inclusive Growth in the Gulf Region
  • Saudi Private Sector’s Contribution to Fiscal Sustainability
  • Economic Sustainability and the Energy Transition
  • Economic Diversification in the MENA
  • Peak Oil and the Energy Transition in the MENA
  • Economic Diversification Through Energy Sector Reform
  • Energy Pricing Reform in the Gulf Region
  • Climate Strategy for Producer Countries
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Editors and Affiliations

  • Graduate Institute of International and Development Studies, Geneva, Switzerland

    Giacomo Luciani

  • Columbia University School of International and Public Affairs, New York, USA

    Tom Moerenhout

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About the editors

Giacomo Luciani teaches at the Graduate Institute of International and Development Studies in Geneva, and at the Paris School of International Affairs, Sciences Po in Paris. His edited book “The Rentier State” (1987, with H. Beblawi), is frequently cited as reference for the concept. His latest edited book, “Combining Economic and Political Development” (2017), discusses economic policies to support democratic transitions and is available in open access.

Tom Moerenhout teaches at Columbia University’s School of International and Public Affairs and is a scholar at SIPA’s Center on Global Energy Policy. He is involved as a practitioner on energy sector and structural reforms through his work as a consultant for the World Bank, International Institute for Sustainable Development and Bill & Melinda Gates Foundation, among others.

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Bibliographic Information

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Softcover Book USD 49.99
Price excludes VAT (USA)
Hardcover Book USD 59.99
Price excludes VAT (USA)
Learn about institutional subscriptions